Fifth Third Bancorp Trims Stock Holdings in The Hershey Company (NYSE:HSY)

Fifth Third Bancorp lowered its position in shares of The Hershey Company (NYSE:HSY) by 40.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 30,713 shares of the company’s stock after selling 21,155 shares during the quarter. Fifth Third Bancorp’s holdings in Hershey were worth $5,253,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in Hershey by 31.4% during the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company’s stock worth $2,110,126,000 after acquiring an additional 2,980,997 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Hershey by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock worth $785,003,000 after acquiring an additional 247,675 shares during the period. Geode Capital Management LLC lifted its position in Hershey by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company’s stock worth $642,139,000 after acquiring an additional 47,394 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Hershey by 38.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company’s stock worth $275,710,000 after acquiring an additional 453,428 shares during the period. Finally, Northern Trust Corp lifted its position in Hershey by 10.8% during the 4th quarter. Northern Trust Corp now owns 1,578,957 shares of the company’s stock worth $267,396,000 after acquiring an additional 154,238 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 974 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the transaction, the chief accounting officer now directly owns 2,994 shares in the company, valued at approximately $470,387.34. This represents a 24.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michele Buck sold 31,210 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $160.80, for a total value of $5,018,568.00. Following the completion of the transaction, the chief executive officer now owns 193,624 shares in the company, valued at $31,134,739.20. This represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on HSY. Citigroup lowered their price target on Hershey from $173.00 to $165.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Mizuho reduced their price objective on Hershey from $167.00 to $155.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Barclays lifted their price objective on Hershey from $160.00 to $165.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. DA Davidson lifted their price objective on Hershey from $162.00 to $163.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Finally, UBS Group reduced their price objective on Hershey from $175.00 to $170.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Five research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $158.84.

Hershey Trading Down 1.8%

Shares of Hershey stock opened at $169.06 on Friday. The stock has a market cap of $34.25 billion, a P/E ratio of 15.51, a P/E/G ratio of 5.90 and a beta of 0.29. The stock’s 50 day simple moving average is $163.77 and its 200-day simple moving average is $165.73. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $208.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.15. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The business’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.07 EPS. Analysts predict that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Friday, May 16th. Hershey’s dividend payout ratio is currently 67.57%.

About Hershey

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.